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The last three months have been very intense for cryptocurrencies. On February 16, bitcoin revamped its all-time high and surpassed the $50,000 level which sceptics thought unachievable. On the night of February 23, bitcoin lost almost $10,000 to its value but now it is traded at a level of around $50,000. Recently, Tesla invested in bitcoin $1.5 billion. Also, a financial giant Morgan Stanley with $150 billion in assets under management is exploring this option. Twitter CEO Jack Dorsey and rapper Jay-Z pledged $23.6 million toward a trust to fund crypto development.

The last high-profile investment was executed on the evening of February 12 by MicroStrategy. According to experts, this news has become a trigger for the new bitcoin’s all-time high. MicroStrategy, a company that provides business analytics, cloud-based services and mobile software, bet around $600 million on cryptocurrencies. The rumours followed that a company plans to bring another $300 to purchase more bitcoin. Payment giants VISA and Mastercard have announced in unison their plans to develop technologies that would allow their clients to operate with cryptocurrencies.

This news on crypto developments raises a question: how important cryptocurrencies became at a global scale amidst their rocketing growth and recent developments? What stays in the way to crypto mass adoption and what could drive it?

Is mass adoption near? 

The discussions over a fully-fledged mass adoption at a global scale are still premature. Cryptocurrency is still too complex to understand for everyone. Yes, several universities are already offering blockchain courses that share knowledge on the technology use cases and value and explain how to use it. But in developed countries, the interest in cryptocurrencies is still spread among the educated minority – big-city residents frequenting tech or investment circles. For the majority, cryptocurrencies remain a strange form of money suitable for illegal purchases on the darknet or speculations.

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